Tilray Brands, Inc. (NASDAQ:TLRY) Receives $11.00 Average PT from Brokerages

Tilray Brands, Inc. (NASDAQ:TLRY) has received a consensus rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.00.

TLRY has been the topic of a number of research analyst reports. TD Cowen lowered their price target on Tilray Brands from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. TD Securities raised shares of Tilray Brands to a “strong-buy” rating in a report on Friday, July 31st. Weiss Ratings lowered shares of Tilray Brands from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Tilray Brands from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

Insider Activity

In related news, CFO Carl A. Merton acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was acquired at an average cost of $4.62 per share, for a total transaction of $46,200.00. Following the completion of the acquisition, the chief financial officer directly owned 139,753 shares of the company’s stock, valued at approximately $645,658.86. The trade was a 7.71% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 15,000 shares of company stock valued at $69,225 in the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Tilray Brands

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Tilray Brands during the 2nd quarter valued at $2,073,000. Deutsche Bank AG bought a new stake in shares of Tilray Brands in the 2nd quarter worth $44,000. State of Wyoming bought a new stake in shares of Tilray Brands in the 2nd quarter worth $171,000. Essential Partners LLC raised its stake in shares of Tilray Brands by 110,137.5% in the 1st quarter. Essential Partners LLC now owns 8,819 shares of the company’s stock worth $57,000 after buying an additional 8,811 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Tilray Brands in the first quarter valued at $123,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.

Tilray Brands Stock Down 3.3%

TLRY opened at $4.42 on Friday. Tilray Brands has a 12 month low of $3.67 and a 12 month high of $23.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.21 and a quick ratio of 1.37. The stock has a market cap of $602.00 million, a P/E ratio of -4.09 and a beta of 1.90. The stock’s 50 day moving average price is $4.56 and its 200 day moving average price is $6.03.

Tilray Brands (NASDAQ:TLRY) last announced its earnings results on Tuesday, July 28th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.42). Tilray Brands had a negative net margin of 13.11% and a negative return on equity of 7.76%. The business had revenue of $281.71 million for the quarter, compared to the consensus estimate of $246.30 million. As a group, research analysts predict that Tilray Brands will post -0.4 earnings per share for the current year.

About Tilray Brands

Tilray Brands, Inc is a global cannabis-lifestyle and consumer packaged goods company engaged in the cultivation, production, distribution and sale of cannabis and cannabinoid-based products. The company develops and markets a diverse portfolio of branded products spanning medical cannabis, adult-use recreational products and wellness offerings. Through state-of-the-art cultivation facilities, research and development efforts, and quality control systems, Tilray Brands aims to deliver consistent, scalable products for a range of patient and consumer needs.

Tilray’s product lineup includes cannabis flower, pre-rolls, oils and tinctures, vapes, edibles and topicals, as well as hemp-derived cannabidiol (CBD) products.